The Prime Minister was at BlueScope’s plant at Port Kembla on Monday in a visit that was organised on Saturday after US President Donald Trump confirmed the tariff exclusion – via Twitter and in private talks with Mr Turnbull.

The exemption means BlueScope will not have to pay an extra 25 per cent to send steel made at Port Kembla to its own companies on the west coast to be turned into Colorbond and other building supplies.

“What we’ve achieved is a commitment from the president that the tariffs he’s announced on steel and aluminium will not apply to exports from Australia,” Mr Turnbull said.

“This is very important for the thousands of people who work for BlueScope – but not just in Australia but also in the United States.

“The tariff would have simply put jobs of both sides of the Pacific at risk. So it’s a very important outcome.”

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In terms of the phrase “security agreement” used by Mr Trump in his tweet, Mr Turnbull said that was a reference to the legal paperwork that will be required to put the Australian exemption into place.

It did not mean Mr Turnbull had to make a trade-off to get the tariff exemption.

“I had the conversation with him so I know exactly what was discussed and there is no request for any change or addition to our security arrangements,” he said.

BlueScope has been a company keen to see the government crack down on foreign businesses dumping steel on our shores.

Mr Turnbull said the government has 77 anti-dumping measures in place – 51 of them related to steel and seven related to aluminium.

However, he drew a distinction between dumping penalties and tariffs – with the former merely aimed at ensuring all steelmakers can compete on a level-playing field.

Mr Turnbull said the aim of anti-dumping measures was “to protect Australian industries from unfair practices”

“This is not about protectionism, this is not about putting up trade barriers. This is simply ensuring that the trade is fair.”

Federal Treasurer Scott Morrison accompanied the Prime Minister on the visit to BlueScope.

He said the tariff exemption was crucial to help Australian manufacturers.

“Australia makes things. This is where we make them – and we make them all over the country,” Mr Morrison said.

“Australia needs to keep making things and to do that we need to have market access all around the world.”

BlueScope’s CEO Mark Vassella said escaping the tariff will be beneficial for the steelmaker.

“From BlueScope’s perspective, we’re very thankful and I know just how much work’s gone into this,” Mr Vassella said.

“It’s a fantastic outcome, a great outcome for Port Kembla. We’re a large employer in the United States –  3000 jobs and $3 billion worth of assets on the ground in North America.

“This will allow us to continue to add value to the products that we make here as we ship them to the west coast.” 

The spectre of a US steel tariff was raised by Mr Trump earlier this month in a surprise announcement.

A delegation that included Mr Turnbull, Trade Minister Steve Ciobo and Foreign Minister Julie Bishop had been lobbying Washington for an exclusion.